Plans to Turn Derelict Cardiff Estate into Riverfront Community
Plans to build more than 1,500 homes on a derelict Cardiff estate could see 3,000 construction jobs and 500 long term jobs created. Developer Bellerophon Partnerships Ltd plans to transform a run-down city industrial estate into a riverfront community with more than 1,500 homes, under new plans. Community facilities, parkland, public realm and infrastructure improvements and a “high street” environment along the western Dumballs Road frontage are planned.
Bellerophon has secured 56.8% of the 33-acre site, which runs between Dumballs Road and the River Taff south of the city centre. The firm aims to have conditional agreements for 82.3% of the site, which is occupied by industrial units, garages and other businesses, by the end of the year. Bellerophon has approached Cardiff Council for assistance in delivering the housing element, of which about half will be affordable.
The Labour cabinet will give the go-ahead today for the council to enter into a conditional heads of terms and agree to the principle of taking a head lease on the affordable housing element in the scheme’s first phase. A cabinet report says it will be financed by a pension fund in return for a long-term income stream underwritten by a housing provider through a head lease across the affordable housing.
Cabinet Member for Housing, Lynda Thorne, said: “This model is a new and innovative approach to the delivery of much needed affordable housing in an excellent central location. The council will fully consider the opportunities that the model presents and will bring forward a further report on this aspect of the scheme in the near future.”